ICBA selected CFSB from a group of 100 nominations for its impactful and economic empowerment program to improve financial literacy throughout the state of Kentucky.
"CFSB's outreach initiative was inspired in part by the 'Champlain College 2016 National Report Card on Adult Financial Literacy,' which gave Kentucky near-failing grades in financial knowledge and retirement readiness, we knew we had to do something," said Betsy Flynn, CFSB CEO. "We are honored that ICBA has recognized our efforts to become a force for positive change by imparting tomorrow's leaders with the knowledge to replace multigenerational poverty with multigenerational wealth."
Among the $1.2 billion-asset bank's notable collaborations is its multi-level partnership with Ramsey Solutions and the Kentucky Financial Literacy Initiative, through which the bank has provided one-on-one coaching to 100 individuals and additional training to 5,000 individuals through sponsored school curriculum and workshops.
The bank also helped garner support for Kentucky House Bill 132, which was signed into law last April and incorporates financial literacy principles into state-mandated graduation requirements.
"ICBA is proud to recognize the extraordinary contributions of CFSB and its team members, which demonstrate the vital role community banks serve in helping local communities prosper," said ICBA President and CEO Rebeca Romero Rainey. "CFSB's dedication to community bank principles, and unwavering support for its customers and communities, serves as a shining example for our industry."
More than 100 community banks have been recognized since ICBA launched the National Community Bank Service Award program in 2002. Bank
technology services provider FIS, of Jacksonville, Fla., sponsored this year's program. CFSB and other award recipients will be featured in the
September issue of Independent Banker(R) magazine.
technology services provider FIS, of Jacksonville, Fla., sponsored this year's program. CFSB and other award recipients will be featured in the
September issue of Independent Banker(R) magazine.
ABOUT CFSB
Western Kentucky's Community Bank, CFSB, is a locally-owned and operated ESOP financial institution with headquarters in Benton, Kentucky. CFSB has locations throughout Calloway, Graves, Marshall, and McCracken Counties and employs more than 290 team members. Member FDIC. For more information, visit www.yourlifeyourbank.com.
ABOUT ICBA
The Independent Community Bankers of America(R) creates and promotes an environment where community banks flourish. With more than 50,000
locations nationwide, community banks constitute 99 percent of all banks, employ nearly 750,000 Americans and are the only physical banking
presence in one in three U.S. counties. Holding more than $5 trillion in assets, nearly $4 trillion in deposits, and more than $3.4 trillion in loans to consumers, small businesses and the agricultural community, community banks channel local deposits into the Main Streets and neighborhoods they serve, spurring job creation, fostering innovation and fueling their customers' dreams in communities throughout America. For more information, visit ICBA's website at www.icba.org.
locations nationwide, community banks constitute 99 percent of all banks, employ nearly 750,000 Americans and are the only physical banking
presence in one in three U.S. counties. Holding more than $5 trillion in assets, nearly $4 trillion in deposits, and more than $3.4 trillion in loans to consumers, small businesses and the agricultural community, community banks channel local deposits into the Main Streets and neighborhoods they serve, spurring job creation, fostering innovation and fueling their customers' dreams in communities throughout America. For more information, visit ICBA's website at www.icba.org.
